Paramount Global (NASDAQ:PARA) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lifted its stake in Paramount Global (NASDAQ:PARA) by 54.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 207,305 shares of the company’s stock after acquiring an additional 73,112 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Paramount Global were worth $3,066,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in PARA. VisionPoint Advisory Group LLC acquired a new stake in shares of Paramount Global in the 3rd quarter worth approximately $25,000. Anchor Investment Management LLC acquired a new stake in Paramount Global during the fourth quarter valued at approximately $30,000. Cornerstone Planning Group LLC acquired a new stake in Paramount Global during the second quarter valued at approximately $30,000. ICA Group Wealth Management LLC acquired a new stake in Paramount Global during the fourth quarter valued at approximately $32,000. Finally, WFA of San Diego LLC lifted its stake in Paramount Global by 635.0% during the third quarter. WFA of San Diego LLC now owns 2,646 shares of the company’s stock valued at $34,000 after purchasing an additional 2,286 shares during the last quarter. 73.00% of the stock is owned by institutional investors and hedge funds.

Paramount Global Stock Up 3.6 %

Shares of NASDAQ:PARA opened at $10.81 on Thursday. The company has a current ratio of 1.32, a quick ratio of 1.17 and a debt-to-equity ratio of 0.63. Paramount Global has a 1 year low of $10.12 and a 1 year high of $24.00. The business has a fifty day simple moving average of $11.57 and a 200 day simple moving average of $12.87.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.09. Paramount Global had a positive return on equity of 1.78% and a negative net margin of 2.05%. The business had revenue of $7.64 billion during the quarter, compared to analyst estimates of $7.80 billion. During the same period last year, the company earned $0.08 earnings per share. Paramount Global’s quarterly revenue was down 6.1% compared to the same quarter last year. On average, equities research analysts expect that Paramount Global will post 1.2 EPS for the current fiscal year.

Paramount Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be issued a dividend of $0.05 per share. The ex-dividend date is Monday, June 17th. This represents a $0.20 annualized dividend and a yield of 1.85%. Paramount Global’s dividend payout ratio (DPR) is currently -19.61%.

Analysts Set New Price Targets

PARA has been the subject of several recent research reports. Wells Fargo & Company raised shares of Paramount Global from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $15.00 to $18.00 in a research note on Wednesday, December 20th. StockNews.com raised shares of Paramount Global from a “sell” rating to a “hold” rating in a research note on Wednesday, April 10th. JPMorgan Chase & Co. cut their target price on shares of Paramount Global from $13.00 to $12.00 and set an “underweight” rating for the company in a research note on Thursday, April 4th. Morgan Stanley cut their target price on shares of Paramount Global from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Tuesday, February 27th. Finally, Benchmark cut their price target on shares of Paramount Global from $30.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Eight equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Paramount Global currently has an average rating of “Hold” and an average target price of $13.79.

Paramount Global Company Profile

Paramount Global operates as a media, streaming, and entertainment company worldwide. It operates through TV Media, Direct-to-Consumer, and Filmed Entertainment segments. The TV Media segment operates CBS Television Network, a domestic broadcast television network; CBS Stations, a television station; and international free-to-air networks comprising Network 10, Channel 5, Telefe, and Chilevisión; domestic premium and basic cable networks, such as Paramount+ with Showtime, MTV, Comedy Central, Paramount Network, The Smithsonian Channel, Nickelodeon, BET Media Group, and CBS Sports Network; and international extensions of these brands.